Evening Star Newspaper, October 27, 1930, Page 15

THE EVENING STAR, WASHINGTO D. C, MONDAY, OCTOBER 27, 1930 FINANCIA CURB ISSUES REACT || NEW YORK CURB MARKET &wrsz-az | (IGNS OF REVIVAL [PR 3RS srrenernionep wmarker| cHIAGD BUSINESS ~.AH R EARLY N =2=a=czmmers e i o i g 4 T o, L, Oty ARE SEEN BY BANK Important Grain Traders Favor Purchase HAS BETTER TONE Thi thows these oo 1o, be 401 1 044 1ot i b Long Isl cu pf B (6). 265 105 105 105 105 ; Utilities Bear Brunt of Selling| Guaranty Trust Reports Im-| ©™ All Declines—Prices Now Show Dry Goods and General Mer- % Acetol Prod A. 4% % 4% % McCord Rad&Mfg 10 10 107 3 - Stock and Sales— P;." xfn'“ Dividend :\‘:u. Add 00. Open. High. Low. Close. | » 17% Marion Steam Shov. 5 5 3 8% Mavis Bottling. . % Pressure—0Qils Are Lower. BY JOHN A, CRONE. Speolal Dispatch to The Star. NEW YORK, October 27.—After an opening today, curb market prices firmed for a time, but reacted following the suspension of C. Clothier Jones & Co., because of insolvency. Electric Bond & Share lost all of its early gain before midday, while Cities Service steadily remained fractionally under its previous close. Pennroad Qorporation was a trifle lower and the same trend was taken by pivotal mis- cellaneous industrials. ‘The suspension of C. Clothier Jones, was the Curb Exchange member ‘of his firm, did not have the same ef- fects as the recent suspensions of J. A. & Co., Prince & Whitely and Plperno & Co., for it was not followed by a large number of “under the rule” tions. The Jenes firm was less ly connected with the trading pub- than the others. tandard Oil of Kentucky, in the of a cut in-gasoline prices, opened higher, but later reacted. Cosden Oil was lower as traders heard ew financing, in the form of $2,- ,000 to $3,000,000 of € per cent de- bentures, was contemplated to provide working capital. ‘Two groups of industrials, farm fm- plements and sugar shares, moved in thy with. similar securities on the board. Deere & Co. dropped 3 ts, as National Sugar Refiniug rcse 3g, reflecting the trade prospects of industries. , & Brazilian min- company, was: the weakest spot in mine list. -Detroit Aircraft, which unfilled orders of $1,119,840, led its previous low,.but Dayton lane & Engine recovered. American Cyanamid in the first few red the announcement that the , partly because of reports of pro- duction plans of the parent company in this country, but later eased. Bab- cock & Wilcox, with a gain of 4 points, was one of the few manufacturing shares that advanced. Continental Shares, Inc., convertible lerred ‘featured early movements in tions as it leaped 534 73 15% 44% 105 55% 14% 28% corpora ints, following a decline of more than 1::% e that amount last week. The following securities were ad- m m:urltm Co. 7 :tpreterred ufac 7 cen g Light & Power Co. $2.80 series pre- ferred, Associated Gas & Electric pur- ‘warrants and Standard Wholesale te & Acid Works, Inc. INCREASE IN CIGARETTE CONSUMPTION CONTINUES Since 1915 the consumption of ciga- rettes in America has increased from 181 per capita to nearly 1,000 per capita at presert Meanwhile the consump- tion of has’ declined during the same period from over 70 cigars per capita to about 55. h facts are developed by the Union Trust Co., Cleveland, in a rece_r:: q¥ille the per ::emu' consumption o cigars. n - receding, one of the most notable phases of the tobacco in recent years has been the spec- strides of the 5-cent cigar, ac- mhleapm t comprises » el 'nt com; & com- lete fulfillment of the late Thomas R. 1f whimsical, half serious ‘Trade Wi 3 of 3,582,503,110 5- luced in America, over 1928. Fully were “In a year of world-wide business de- the tobacco industry stands one of the few great industries make headway against the gen- bb% tide. Whether or not the lustry merge from the period of decline wholly depression-proof re- mains to be seen, but its showing over the first eight months of 1930 consti- tutes a truly impressive record.” BONDS ON THE CURB MARKET. igh. Low. Noon. Pow Ss 1510114 100% 1001 wih Pw 65 '40 92% be E Ss2028. 90, 08y 8% & L 65 2016 108 1 6s 45 85 85 8% 73 1003 rkans 3 99° Asso' Blectzic 41as 20l tas ; w1 El 55 867 83 § 0! H 13 80 57 17% 27% - 20% T4% “% T 3% 1 12% 8% 162% 8% Atnsworth Mfg $2% ; 20% | 22% Alr Investors cv pf., Alabama Pwr pf (6). All AmGen Corp. ... ‘Aluminum Co 8¢ Am, Alum Goods (1.20). Amer Austin Car. Am Capital (B) ... Am Capital prpf 6% Am CP&L B (10%).. Am Com P A (b10%) Am Cyanamid (B).. Am Equities. . Am For Pow (war).. Am Gas & El (31)... Am Gas & El pf (6, Am Invest Inc (B) Am Natural Gas Am StPS A (1.6 Am Superpower Am Superpwr 1 ) i Am Superp pf (6)... Am U &G B vtc 40 Anglo Chil Nitrate. Appalachian Gas Arcturus Rad Tul Arkansas Nat Gas Ark Nat Gas (A).... Ark N G cu pf (60c). Asso Elec Ind (30c).. Asso GRE A (at2.40) As50 G & El ctfs (8). Ass0 G&EI pur rts. .. Atlas Plywood (2) Atlas Util Corp. Atlas Utilities war.. Auto Voting'Mach. .. Babcox & Wil (19) Bahia Corp. ... Bigelow Sanford. ... Blue Ridxe Cp (40c). Blue Ridge cv pf ad.. Bohack HC 1st pf 7.. Brazil Tr&Lt(b8%). Brill Corp (A) (65¢). Brit AToB 1. 10c. Br Celanese - Burma Cor Bwana M Ku Cable Radlo | vtc... da Marconi..... lanese 1st pf (7%) Cent Pub S Del..... Cent Pub Sve A a1.76 Cent & SW Ut b6%.. Cent St El (k40¢). ... Chat Ph Al nv (50c). Childs Co pt (7). Cities Serv (g30¢)... Clark Lighter (A)..s Clev Tractor (1.60).. 4« Col Oil & Gas vte. Com Wat Sv (bl . Consol Auto Merch.. Consol Coppe: Consol Dairy Prod Cons Gas Balt (3.60 Consol Laundries(1) Consol Retail Stores. Consol Trac of NJ.. Contl Share cv pf (6) Cooper Bessemer (2) Cord Corp. .. Corp S8ec Ch (b6%).. Corroon & Reynolds., Cosden Of). Crocker Wheeler. Crown Cent Petrol... Cr Cork Int A (1).... Dayton Alr & Eng... Deere & Co (m1.20).. De Forest Radlo. DeH Air Ltd rct 50c. Detroit Afrcraft. Diamond Match n Dia Match cu pf (n) Gt Durant Motors. Duval Tex Sul wi. Eisler Electric Corp. Elec Bond & Sh (b6). E1 Bond & Sh pf (6). E) Bond & Sh cu pf 6. Elec Pow As50 (1)... Elec Pow Asso A (1) £] Pow & Lt op war.. Elec Sharehold (21). El Sharehold pf (26) Empire Corp (war)., 4 Fngineers Gold. Europ Elec deb r Evans Wallow Lead. Fabrics Finishing. .. Falcon Lead........ Fedders Mfg Co (A). Federal Baking Shop Federat Metals t13 . Fiat rets (1.25) Flintkote Co (A).... Ford Mot Can A t13% 3058 Ford Mot Ltd 37%c. 43 Foundation For Sns.. 2 Fox Theater Cl (A).. Gen Alloys (80¢) General Aviation. General Baking. Gen Baking pf (3)... Gen E Ltd ret (50¢) . 4 Gen G&E cv pf B (6) 15 %4 Gen Laundry Mach., 1 Georgia Pow pf 16). Gilbert (AC)pf (3% Glen Alden Coal (8 Globe Underwriter! Golden Center. Gold Coin (new’ Goldfield Consol . Goldman Sach TC .. Gold Seal Elec new . . Guif Ofl of Pa (1%).. Guenther Law (2)... Hollinger Gold (60c) HudsonBay M& 8 Humble O11 (2) . Hygrade Food Prod. Ti1 Pipe L cv pf (6).. tmp Ofl of Can (bve) Imp Ofl Can reg(50¢) Ind Ter 11lu Ol (A). Insull Ut (1b10% %) InsCo N Am_ (13).,.. Intercontinent Pet n int Petroleum (1). .. Int Utilities A (3%). & Silica Gel ctfs 10% 108 Memphis Nat Gas. 18% 13% Met & Min Ino (1. 1% Mid St Pet vic A... 4 Mid West Ut (b8%) 23 Mid West Ut A war 1% Mid St Prod n (2) 16% Mining Corp of Can.. 1 Mo KanPL (b10%). 20 MoKanPLvte..... 15 Miss Riv Fuel bd rt; Mount Prod (1.60)... Nat American Co. Nat Aviation. Nt Nat Leather t Pow & Lt pf PScvpf ww 3. Nat Rubber Mach (1) Ni Nat Sugar NJ (2). Nat Transit (1).... New Eng Pow pf (6). New Eng T&T (8).. New Haven Clock(1) NJ Zinc (12%)....0 *Newmont Min (£4) Newport Co (2) N ¥ Pet Royalty. N Y P &Lt pf (6) N Y Transit (1.8 Viag-Hud Pow (40c] Niag-Hud Pow A w Niles-Bem-Pnd t2%. 4 Nipissing (30c).. Noranda Mines (2) Nordon Corp Lits No Am Aviat A war. Nor & So Am Corp A. r Central Texas. . r Ind Pwr Sve(6). rInd P S pf (7). _ Nor St Pow A (8) Ohio Copper Oilstocks Lt QOrange Crush (1.50), Outboard Mot (A)... Pac G&E 1st pf (1%) Pac Light pf (6). Fac Pub Sv (1.30) Pandem O1l. Pantepec Oil. Pennroad Cp (20¢). Peop L& P Aa2.40. Pitney B P n (20c). Plymouth 01l (2) Prince & Whit (25¢). Prince & Whit pf (3) Prod Royalty (f1). Prudential Invest, Pub Ut Hold (50c! Public Util Hold war Pub Utll Hold x.w. .. i Puget S P & Lt pf(6) Pure Oil pf (6)... R R Sh Corp (25¢). Reiter-Foster. ..., Reliable St (b5%). Relfance Int (A). Reybarn Co. 4 Reynolds 1n Rich Ol Cal pf (1 Rock Lt & P (30c).. Royal Type (13%). St Regis Paper (1). Salt Creek Prod (2) Saxet Co....... Schift (The) Co (2) Schletter & Zander., Schulte Un 5c-31 St. Seaboard Util (50¢) Seg Lock & H (50c) Setberling Rubber Selected Industrie: Sel Ind all ctfs(4%4). Shenandoah Corp.... % Shenandoah Cp (al). 2814 Singer Mfg (119% ). 380 380 Smith (A O) (2) 145% 1451 Solar Refining. .. 8 8 Sou Penn Ol (123 ). A 26% SoCal Edpf B (13). e 2T% SouthldRoyalty (60c) 8 W Gas Utllities. .. SW Dairy Products. Spanish & Gen rets. , Stand O1l Ind (23).. Stand Ofl Ky. (+180) Stand 011, Neb(t3%) 1 Stand Ofl Ohio (23). B0s 54 54 Stand O Ohio pf (7). 230s 116% 116% SRrrett Corp..o.oam 2 11. 11 Starrett Corp pf 80 30 Strauss Roth. 8% 81 Stutz Motor Ca 3 % 1k Swift & Co new Syracuse Wash Ma Tampa Electric (32). Technicolor Inc. ... Teck Hughes (60¢). . Texon Oil&Land(t4). Thatcher Sec Corp. ., Tobacco Pr Exports. Tran Con Air Tran. . Tri-Cont Corp (war) Tri Utilities (31.20). Triplex Safety Glass Ungerlelder F Corp. . Un N G of Can 11.60. Unicn Tobacco. . . Utd Car Fast (60c) 5 4 Utd Corp « i 10% 137% 1% Utd Gas Co (new). . 10% Jtd Gas (war)... 4% td Gas pf (7). % Utd Lt & Pow A (1), Utd Lt & Pow B (1). Unit Mollasses Ltd. US Dairy (A) (5). U S Elec Pow ww. U 8 Foll (B) (1) U8 Lines pf (1) U S & Int See 18 US & Oversens war US Playing Cards(4)125 td Stores . Jtd Verde Ex: Utll Pow & Lt (a1).. Utility & Ind. Utiltty Bquities Vacuum Of) (4) Van Camp Milk p Venezuela Petrol . Vie Finan Cor (40¢). Walgreen Co. .. Walker (H) (1) Wenden Copper % | mer has given way to .| 83'to 82%; new, 82 " | March, old, 787 provement Since Depres- sion of Summer. Special Dispatch to The Star. NEW YORK, October 27.—The pro- nounced recession that characterized business activity in almost all lines| gy throughout the late srfln: and Sum- irregularity, with positive improvement in some branches of trade and industry, according to the current issue of the Survey, published by the Guaranty Trust Co. ‘The Survey finds that some encour- agement is to be derived from recent business developments, although it can- not yet be said that definite recovery is evident. The bank’s publication reports ; | that there was only a slight drop in the index of business activity from August to September and that reports for the current month thus far indicate no se- , | rious setback. Effect of Stock Decline. “While the trend of business activity thus affords some ground for optimism,” the Survey continues, “events in certain directions appear, at first glance, con- siderably less favorable. The develop- ment that has undoubtedly attracted the major share of public attention since the beginning of October has been the further decline in stock prices, which has carried the general level ap- proximately down to, if not below, that reached immediately after the collapse of last October and November. “As usual, the recession in security values has reacted on business senti- ment, creating in some quarters a degree of pessimism by no means war- ranted by its intrinsic importance. As a matter of fact, stock prices seldom, if ever, reach their lowest point imme- diately after a major collapse. The initial break is almost invariably fol- lowed by a more or less prolonged period of weakness in the course of which the level of values ordinarily goes below the point reached in the early stages of deflation. To many observers, therefore, the attainment of a new low level of prices for the current movement came as no surprise, but rather as an unpleasant necessity that had to be encountered before the rexsfjustmem could be considered: com- plete. Commodity Prices. “Commodity prices have also failed to maintain the firmer tendency that was noted a month ago. In the latter part of September and the first week of October, renewed weakness appeared, particularly in prices of farm products and of imported raw materials. This decline carried the wholesale price index of the Guaranty Trust Co. to a new low for the current movement. The index numb:r for October 15 stands at 60.0, as against 62.8 a month 2go. “On the whole, however, the be- havior of commodity prices in the last three months has presented an encour- aging contrast to the consistent weak- ness that was evident during the first seven months of the year. Recent movements have covered a compara- tively narrow range, suggesting that the readjustment, if not actually completed, is, at any rate, far along on its course. This view is strengthened by the at- titude of leading consumers of indus- trial raw materials, who have shown an increasing tendency to cover their ;i needs at existing prices. Prospect of Recovery. “The failure of trade and industry to score decisive gains during the pe- riod of seasonal revival in September and October has once more deferred the hopes of business men for an im- mediate recovery. Just as the down- % | ward course of activity last Spring led to the general assumption that low levels would be maintained during the “| Summer, the approach of the holiday period is now cited as a reason for the belief that next Spring will bring the next logical occasion for marked im- provement. Although there is nothing impossible in the idea that genuine re- | covery may begin in the interim, the | more distant expectation appears, in the present instance, to be the more rea- | sonable. GRAIN MARKET The wheat market was higher today, reflecting the gain in Liverpool, but re- acted later on weakness in Buenos Aires. Strength in Liverpool was based on rust reports in parts of Argentina, but the reaction in Buenos Aires discounted these reports. December, old, opened 9%, to 79%5: new, 79'. Mareh, old, 1., May, old, 837 to 84; new, 84 to 84! After the first half hour: December, old, 78%; new, 79%. March, old, 8215; new, 827 May, old, 83%; new, 841z, x| Corn followed wheat. December, old, | opened 77% to 7% new, 774s. March, 2. Ma 814 to new, 71%. May, old, December, old, 77 813;: new, 813 new, 3975. Provisions were unchanged. By the Associated Press. | _ CHICAGO, October 27 (United States | Department of Agriculture).—Hogs, 50,- | 000 head, including 23,000 direct | mostly 10a15 lower than Friday's ave- rege; bulk 180-300 pounds, 9.40a9.65; packing sows, 8.00a8.65; few light light, good and cholce, CHICAGO, October 27 (Special).—! , ol | ; new, 8153. After the first half 5CHXCA(}’O LiVE STOCK fiARKET A A Substantial Gains. BY FRANK I. WELLER. Associated Press Parm Editor. Buyers have begun nibbling at the ‘wheat market, cautiously, but with just enough consistency to indicate a pos- sible turning point in the psychology of e trade. Commission houses with Eastern con- nections have been persistent buyers of wheat in a moderate way, Chicago re- say, and a dozen or more hn'j)or- tant grain firms subscribe substantially to the theory that while continued 'ir- regularity is likely in all grains the gen- eral trend is toward higher prices. ey | g favor purchases of wheat on all de- clines, In the meantime prices have worked 3 to 4 cents her, cash markets hold- ing relatively er than futures and premiums for cash wheat showing fur- ther increases. Currentt ‘This new friendliness toward wheat, however, is perforated with observations that a definite turn in the markets and a sustained advance may be delayed for some time, and with a hesitancy to fol- low bulges except on fair reactions. ‘The following are among current grain trade opinions: “The gradually hardening tendency, reflecting steady absorption by influ- ential commission houses, encourages belief that the advance in wheat will continue for the present.” “We feel that purchases on the easy spots are advisable in wheat.” “We are of the opinion that low prices for wheat will bring good support.” “It behooves investment buyers to ac- cumulate wheat around these levels if they expect to profit by the advance which seems inevitable.” One influertial Chicago firm takes the view that any sharp upturn in wheat should be taken advantage of to sell for profit, the idea being to place on fair reaction to a gradually higher trend in prices. Without doubt wehat has been gain- ing friends, with Eastern interests taking the lead in the best buying exhibited for days. Large orders which absorbed offering bolstered confidence in Chicago although there is a disposition among the pit elment to take profit on all ad- vances, causing frequent setbacks. Bullish Factors. ‘Whether or not their influence will have any lasting effect, several factors have contributed to the bullish tinge of the market. One is the fact that usking returns have not been very favorable for corn and that country offerings have been light. The situa- tion does not seem to attract much buying power, since farmers continue to feed heavily of wheat and apparently are holding off of corn as much as tb’epyu- can in anticipation of larger re- cel The trade had been hard to con- vince that farmers would stick to the irman Legge of the predicted that before another crop year this country would be importing wheat because of the volume in which it was being fed to stock. While he discounted the full measure of the prediction, Mr. Legge said the carryover at the beginning of the next crop year would be much less than has been the custom. Another stimulating factor has been intermittent suggestions of stronger European buying of North American wheat. Although the foreign- wheat market situation has not changed ma- terially, demand moderately active and the relatively large world shipments apparently are »P"“‘“ read- ily into consumption. New offerings of Russian wheat are reported to have slackened and Argentina is believed to ga scraping the bottom of her export ins. There is a deficlency of wheat in European countries, amd only North America sufficiently able to meet an emergency demand between now and the new Southern Hemisphere harvest. European Demand. So far European demand has been very quiet, influenced by favorable weather In Australia and Argentina, which indicates low prices for the time being. Wheat in those countries con- tinues to make favorable progress, with the Argentine acreage now placed at the record figure of 21,316,000 acres. This, with the record area of 18,160,000 acres in Australia, brings the combined area in the two countries to about 39,- 500,000 acres—an increase of about 46 per cent over the average acreage shown in the post-war years, 1921-1925, and 66 per cent above the average of pre- war years, 1909-1913. BETTER SENTIMENT PREVAILS IN STREET Predictions of Business Improve- ment Have Cheerful Effect on Traders. Special Dispatch to The Star. NEW YORK, October 27.—No week for the past two months has started with sentiment as cheerful as that of today. This reflects not only the great- er stability in the market since last Thursday, but the many predictions of business improvement that have been made in the last few days supplemented by a summary of economic conditions in the nine months to 1930 just issued by the National Business Survey Con- ference. The steadiness of commodities has also played a part in developing a greater spirit of optimism. While many prices are lower than they were a year ago, Wall Street has satisfaction in comparing the present relatively quiet speculative conditions with those that were deeply agitating the country at this time last October. No change is indicated in the com- modity price average this week. It stands at slightly higher than during the first week of the month, and slight- ly lower than the September average. ‘There are indications of buying by manufacturers of staples such as cot- ton, silk and rubber, and of a stabiliza- tion of sugar and wheat. Copper is lower than a week ago with the ad- justment between production and con- sumption still to be completed before this market strikes bottom. It is now within a fraction of a cent from the minimum level predicted by those who have been most pessimistic regarding | the metal situation. (Copyright. 1930.) INVESTMENT TRUSTS NEW YORK, October 27 (#).—Over- | the-counter market: Bid, Asked. Am & Cont_Corp .13 Am R e Bl r Founders 1-70th B Founders conv pf ctfs war RECIPROCITY IN TAX POLICIES IS SOUGHT Effort to Avoid Double Assess- ments on Estates Will Be Pushed. By the Associated Press. Foundation is now being laid to ex- tend during 1931 interstate reciprocity in State inheritance taxation to 9 of the 11 non-reciprocity States. ‘The essence of the principle is that the States constituting the reciprocity group agree, either unconditionally or upon a reciprocity basis, to exempt from their inheritance taxes the intangible g:rsoml property, such as stocks and nds, in the estates of non-resident decedents. This means that such prop- erty 1s subjected to only one tax, where- as hitherto it has been subject to the taxes of many jurisdictions. State legislation is necessary in the adoption of such a policy, hence next year's efforts will be restricted to those States which have legislative sessions. These include Arizona, Kansas, Ken- tucky, Louisiana, Minnesota, Montana, Nebraska, North Dakota, Oklahoma, South Dakota and Utah. Pushing the effort are State and lo- cal chambers of commerce and trade associations who seek to have reciproci- ty measures introduced and to devel:r public support for their enactment. 1 work in any one State is initiated and carried on locally, although it is in- tegrated with the Nation-wide effort sponsored by the United States Cham-! ber of Commerce, the National Tax As- | sociation, the American Bankers' Asso- clation and the Investment Bankers'| Association. e W SILK FUTURES. NEW YORK. October 27 (Special).— | Apparently ignoring _ the favorable with Yokohama 10 to 21 higher and Kobe up 19 to 28 points, raw silk fu- tures today opened irregularly 4 points lower to 3 points higher. There were no_transferable notices issued today. ' Commission house operators, dealers, uptown interests and silk manufactur- ers were moderate bidders, with import- ing interests and the trade offering. A little Wall Street commission house offering came into the distant options. POTATO MARKET. CHICAGO, October 27 () (United States Department of Agriculture).—Po- tatoes, 261 cars, on track 484 cars, total United States shipments - Saturday, 1,111 cars; Sunday, 36 cars; steady, trading fair; Wisconsin sacked round whites, 1.50a1.70; fancy, 1.75a1,85; Min- nesota sacked round whites, 1.50a1.65; North Dakota sacked round whites, 1.55 al.7¢; sacked Red River Ohio's, 1.75a 1.90; Idaho sacked Russets No. 1, 2.10a 2.20; No. 2, 1.75a1.85; South Dakota cables from the Far Bastern markets, || chandise Markets Return to Active Status. Special Dispateh to The Star. CHICAGO, October 327.—Increased evidence of returning confidence is ap- parent in the steel industry, also in the mercantile lines. Expectations of railroads buying around 285,000 tons of ralls in the near future give a fresh impetus to other lines. Bars, sheets and structural steel ton- nages have increased, and buying for immediate delivery has been backed up by a disposition of steel users to antici- pate future requirements to a somewhat larger extent. Operations in the steel industry in the Chicago district last week were 58 per cent of capacity, or 1 per cent more than in the previous week, and compare favorably with last year. Employment conditions are im- proving. Lower temperatures brought increased buying of coal, and that industry has taken on a better tone. Fuel olis are being brought more freely, and con- sumption for the next six months prom- ises to be greatly increased, as there will be more oil burners used for do- mestic heating than heretofore. Interior distributors of dry goods and general merchandise oppeared in greater numbers, resulting in increased sales of blankets, underwear, hoslery and gloves by wholesalers. Clothing manufacturers and jobbers, as well as retallers, were favored with more orders for overcoats. Spring business in clothing is open- ing up to a fair extent, with indications that men’s suits will be possibly 5 to 10 T cent lower than last year. Reports, owever, say clearance of Summer goods was not up to expectations in a few sections. Retail business took on new lfe, sales being greater than recent weeks and about et}ullln' those of last year. Competition from outlying districts has induced a number of the large State street stores to keep n_Saturday evening. Sales so far, however, have not equaled expectations. Sales by mail order houses and chain stores were about the same to a little larger than last year as to volume, and one of the largest distributors adds that the actual sales are not fully reflected, in view of the fact that the goods are lower in price than last year. Business Notes By the Associated Press. NEW YORK, October 27—Re-orders for cold weather apparel and accessories featured the New York wholesale mar- kets last week. Business in coats, both men’s nad women'’s, was the best in a number of weeks. The Sunday night dress of crepe or sheer fabrics continues an outstanding feature in the dress :l;;:g. Orud);u for l‘!lt;emonl dresses, can! crepes ead, are being actively placed. Sellers have announced that the ma« jority of ;flu and fiber rug lines will or display next week. Some these lines -will have preliminary showings this week. Mills have concen- trated on color and design in their 1931 offerings. Steady business has kept coming blanket mils and shortages of un-m plaids have been reported in many pri- mary quarters, the trade reports. IMPROVEMENT IN STEEL OCCURS DURING WEEK By the Associated Press. to trade reports there were ma: signs of improvement in the mn‘;m t that developed during the week. Rail road buying increased and there was also an improvement in the iry for railroad equipment, while of structural steel was the best many weeks. Trade sentiment seemed to be consumers were carryl Vi reserve stocks, especially u‘n‘umn“ye:! tinued to be urgent requests for prompt shipment. Pig iron was unchanged. were confined to small | Business was quiet lnflmmw inquiries First Mortgage Loans Lowest Rates of anterest and Commission ‘Thomas J. Fisher & Company, Inc. REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD apariments nd "pariica larly on well for 3, 5 or 10 vears, 1520 K St. N.W. National 0475 [Let Us Make Yo First Mortgage Loan! Loans may be secured on desir- able, income-producing Washing- ton real estate at a minimum cost. A SAFE INVESTMENT sacked round whites, 1.40a1.60. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Seliing checks | oday. value. | London, pound....... $4.8665 $4.857, | Barts. tranc. 1" Jo1%e el Internat Util (B) 4 1071 West Pow vf (7). 140-160 pounds, 9.1029.40; light weigit Intl Ut pt pf (7 r 9 981 151 Wil-Low Ca 3 « "% 160-200 " pounds, 9.25a9.60; medium 20 Willilams R C (1.40). 11% | weight, 200-250 pounds, 21% Zonite Products 431 : 1 | heavyweight 2308350 pounds, 9.50a9.76: RS WuDirsiwar.. RIGHTS. it B aitag ‘Sows, et aud good; 218 | S Kolster-Br (Am 8h). 3 % 4 Com i 114 14 ;500 pounds. 7.65a8.75; slaughter pigs,|Cumul Koppers G&C pt (). 2 Teop « 10% 10% | good and choice, 100-130 pounds, 8.75a | Debotiied BADK Lackawanna See (4). dend rates in dollars oased on ias auarteriy or semi-arnuai | 9 B rustee Shares A Q02>2>> agare £ st Ry 4%s 83 rpiller Tr_ 85 St Elec 34 will be found in our real estate mortgage bonds! 298! .. 232333 ¥oq000 El segizsee Capital Resources, $3,800,000 24 JACKSON PLACE a% pos IERR 2Re?, 5l £ g 5 P 5 3 b k=f ", REE PETIT Fori S282332822283222332! =E§— E. n’:' = 853238302583 Es - Stability of Earnings 1929 1928 | Electric Energy Sales 79% 76% . GasSales . ......14% 14% 332255 Ot AARAgts, o 2222 ZRR R o o) 02! 25d 22 gt SHORT-TERM SECURITIES. (Reported by J & W. Seligman & Co.) Bid Offer ) E:l 5 Lebh C& N n (1.40) 9 3016 80% s - é‘:{'ur\ 27,000 head; calves, 2,000 head; | Diversified Trustee Shares B Leonara 011 i § 1 cann 5y Gigidenq SPaitly exus tPius 4% ip stock s Pasapie in | strictly good and choice fed steers and P Bl i Lion Ofl Ref (3. 1n:. 0% 10% §%"1m" stock. ¢ Phus Th Stk Plaayment diridend (RIS | yvearlings, steady; supply relatively] Fuutiies Invesiors Corp units Loew's Inc war).... 5% B% «|3% o sock kPlus 10% in stock m Plus 3% In stock. o Plus | Scarce; in-between grades predominat- | EeGerates, Cob, pf-: S = 5 nd weak to 25 lower: : O, yearlings, early, 1300; weighty steers, S £ sat, pomgo. . Seeiie larger concerns s " - approximately 1, estern | Granger Tri g zloty. ... 1 Fre s e PROPOSALS FOR DOLE SYSTEM [t e, n o, s, e v | 560 ot 1T win i B o el decidedly this month, although it is still | Slaughter cattle and vealers, stecrs, good | G et 2684%c IN U- S. DECLARED UNECONOMIC somewhat under the level of last year. | 8nd choice, 600-000 pounds, 11.50a13.50; é%grwnud L Trad —_— c ect cf the trend of commod- | 1 : .75; 1,300-1.500 | FCOROT ity prices. Many bankers and . econ. | Pounds. 9.25a12.50; common and mied- | Int Becur Core Am A (Reported by J. & W. Seligman & Co.) BY J. C. ROYLE. | gestion that the Farm Boird should |OmIsts lay the blame for the depression | fum. 600-1,300 p"““d;' 6.0089.50, +0-g50 | Int_Secur Corp Am ot RateMeturity B | OQfer The United States is not going on | [UIMsh pancake flour at cost to the | pn the Thet that commodity prices have | | HRe™ 1 §001575: “common and | IRVGHmeN! st Adgeigies D u o A B R i § Jobless, while 2 e in- ed. ors o 5 3 s ) ¢ 5 K dole basis. The anxiety over the em-| ustry’ sells them' figs, peaches, pm‘ the reduction of commodity prices will | medium, 5.00a10.00: cows, good and | fnvestment Trust of N J 5 1% (3 18 18 100 22-32 ployment situation, which obviously con- : 3 4 s0 stimulate buvi choice, 5.5028.00; common and medium, | Jackson & Curtis Invest A Y s i 100 23-32 | Plums and other conserves at a little | $0 stimulate buving that prosperity must %13 Bec Corp 100 100 29-32 100 31-32 gerns the occupants of the Wiite House, | more than the cost of production and | inevitably result. 42505.50; low ctter and cutter, 3.258 | Jaeksep & Curts 35 brought forward a sccre of Proposi- | distrivition. o e el 425; bulls (yearlings excluded), g e ot Industi tlon: oL pes lnunst'm‘;fl;lll‘! designed 10| cost of ';lx’r'udu:ual:( ;ngmffisztrliktin‘:u;gf Favo:able Sign. and choice um;g. 5,'15?6,15;' cnllzufred z:; ajor meet s, Most of these proposal ; - D at. vealbre: IIESRAD: . e e e propossls means ;hf:;’&:;l “?:u‘r'm’fn hsamh to dis-| A favorable sign in the business sit- ,fli‘gufia"fxf&g& oo D ey £ : § Tr;nlporunen vee 3% 5% prohibited by law or by economics posal ven if the Farm Board were abje | Logon 15 the pick-up in_telegraphic | 00a20.00; cull and common, 6.508.00: I3 2, % | Allis-Chalmers_Co. §s 1937..... 103% Other Sources ... 4% S% In the history of the world, distress | Lo qistriby cre abie | communication. This is a very reliable | ciooker” and feeder cattle, steers, good S s | Amer. Tel. & Tel 5ias 1943...0 108 5 has never been relieved by doles and | ' The mrrionke flour as proposed. | barometer of business and indicates| ang choice, 500-1.050 pounds, 6.7588.75; Baltimore & Obio 413y 19837 101 Amcctizes Gaaand Rlectsic hunger has never been assuaged by soUD | relict, but for jobs Which Wil Siaple | LosebooS Snd commodities are com | common and medium, 500700, ghievian Tep corp. e, Jbi. sd # M b o jobs A wann e & kitel | mencing to move with increasing speed Authority Lacxing. the workers to solve thair own problems. | Ve Scores of firms are operating with that | “00 'O One of the proposals circulated here |idea in view. The Baltimore & Obio sted that the Farm Board distri- | Railroad, for ‘example, Is going to buiid 1,000 steel box cars and 1000 gondola cars, at a cost of $4,000,000. This will 2 7 7 Sheep, 20,000 head: slow: steady to | Northern Bell Tel. of D 1041 its of tin, venue 2 weak: Thative ewe and weiher lambs, Sl Toony TR Auese t o ::g :fi;‘ ol‘el?cnicity e mostly 7.50a7.75 to packers and ship- | Oil Shares Inc Units. h ble ”) pers; early top, 8.00; rangers unsold: e 8as, l 'C fllplt stal sources NEW YORK COTTON feeders held at €.50a7.25; lambs? 90 e Mot, Actep. Gorp. 8s 18 32 of utility income. pounds down, gcod and choice, 7.00a pf... General Pet. Corp. 58 1940 Associated debenture be done n its own shops and will fur-| NEW YORK, October 27 (Special). | 8.35: medium, 600a7.00; all welghts, o L& Glodvtar T & B3 Ao o0 - e common, 4.50a¢ ; ewes, o 3 3 . 000 mecrk, Jor between 60,000 and 70,- | —Opening cotton prices today were 4| PICGliint g Cotce, 2.0003.75: all weights, | Sccond It Secur Gorn 3 yik Cansde & under the terms upon which it| The lumber companies are sending | '® '3 Points higher, the most spectacu- | cy)l and common, 100a2.50; feeding | Second Int Sec Corp 67 lat f. 47 sTos" 1982 ived and autho! by Con- | their woods crews into the forest at|laT gain being in January old crop |lambs, 60-75 pounds, good and choice, ; In second place, the Farm | present, and this is taking up a large | contracts, which were heavily supported. | 6.75a7.50. has mills in which to turn|amount of unskilled labor surplus. The Trade buyers were purchasing moderate S R wheat flour. And in the third | lumber industry has been able, by keep- | quantities of December and January, PARIS BOURSE PRICES. ice, most of the unemp! are averse | ing production close to consumption, to | and speculators made commitments in only to recelving charity, but to|stabilize its employment situation. At|near months on an improved statistical| PARIS, October 27 (#7).—Price changes were irregular on the Bcurse toda: Opening prices were: December, new, | 3 per cent rentes, 86 francs 80 centime: king their own bread. the moment, orcers are larger than pro- | outlook. The South sold. duction throughout the coun The increased activity of the automobile ac- | 11.08, up 5; January, old, 11.25, ng 13; { 5 per cent loan, 101 francs 85 centim: cessory manufacturing industry - | January, new, 11.23, uj h, 11.45, ' exchange on London, 123 francs 82 85 an extrem The dollar was quoted at 25 § Rwy. 4las land 4s 193+ (Copyright. 1930.) o Rock Is! Chile Copper Co. 55 1947 Gudahy Packl @ L T O R T, - e et = 238 Py H ‘sg; S, & P & hif i re Ofl D, Shel) Union OIl Go, Sinclair Grude Oil Go. Standard §e% geazsaniszss gsds et g D o isoasiupsl Hars¥ is 8; 11.68, , 11.85, times. Ca Ay i i